2024-05-15T07:59:34-05:00 2023-06-30 872525370 CITRIN COOPERMAN ADVISORS LLC 50 ROCKEFELLER PLAZA NEW YORK NY 10020 990 2022-07-01 453615582 DIVISION HOUSING CORPORATION DIVI 2126928348 60 DIVISION AVENUE BROOKLYN NY 11249 MSGR ANTHONY HERNANDEZ PRESIDENT 2126928348 2024-05-14 1 MSGR ANTHONY HERNANDEZ 000000000 1 AMANDA ADAMS P00748038 2126971000 2024-05-14 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z MSGR ANTHONY HERNANDEZ 60 DIVISION AVENUE BROOKLYN NY 11249 17405732 0 X N/A X 2011 NY TO OWN, REHABILITATE, MAINTAIN, AND MANAGE, ON A NONPROFIT BASIS, A MUNICIPALLY-AIDED HOUSING PROJECT IN BROOKLYN, NY, FOR PERSONS WITH LOW INCOME. X 4 4 26 0 0 0 0 0 16574894 8193775 43685 6723152 0 111551 16618579 15028478 0 0 0 0 2762650 1510357 0 0 0 12102210 5858896 14864860 7369253 1753719 7659225 37066960 11078346 33647839 0 3419121 11078346 X TO OWN, REHABILITATE, MAINTAIN, AND MANAGE, ON A NONPROFIT BASIS, A MUNICIPALLY-AIDED HOUSING PROJECT IN BROOKLYN, NY, FOR PERSONS WITH LOW INCOME. 0 1 7015120 8193775 THE CORPORATION OPERATES AN APARTMENT COMPLEX OF 534 RESIDENTIAL UNITS (AND TWO COMMERCIAL SPACES), WHICH SERVES AS LOW-INCOME RENTAL HOUSING. 7015120 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 1 0 0 1 13 0 1 26 1 0 0 0 0 0 0 0 0 0 0 0 0 X 4 4 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 1 1 NY X DOUGLAS ELLIMAN PROPERTY MANAGEMENT 2126928348 675 3RD AVENUE NEW YORK NY 10017 X MONSIGNOR ANTHONY HERNANDEZ PRESIDENT 5.00 X X 0 0 0 RABBI JOSHUA ROSENBAUM DIRECTOR 3.00 X 0 0 0 MARY DUNBAR SECRETARY / TREASURER 3.00 X X 0 0 0 MIGUEL HERNANDEZ DIRECTOR 3.00 X 0 0 0 0 0 0 0 0 0 0 CLASSIC CONSTRUCTION NY CORP 501 MCDONALD AVENUE STE 1R BROOKLYN NY 11218 REPAIR & MAINTENANCE 636000 JOSEPH AND SON RESTORATION INC 14 OLIVE STREET BROOKLYN NY 11211 REPAIR & MAINTENANCE 408745 Z&S CONSTRUCTION CO 533 E 2ND STREET APT 4F BROOKLYN NY 11218 REPAIR & MAINTENANCE 406090 CITI SECURITY INC 129 SOUTH 8TH STREET BROOKLYN NY 11211 SECURITY 358594 RAFE CONTRACTING LLC 380 PINE STREET BROOKLYN NY 11208 REPAIR & MAINTENANCE 329981 9 REVENUE - RENTAL OPERATIONS 531110 7362458 7362458 INTEREST REDUCTION PAYMENTS REVEN 531110 656447 656447 RENTAL INCOME FROM K-1 FLOW THRU 531110 174870 174870 8193775 269946 269946 111551 0 111551 111551 111551 8830460 2377254 6453206 6453206 6453206 15028478 8193775 0 6834703 1082634 927093 155541 61347 61347 288943 238617 50326 77433 66308 11125 57044 57044 17668 17668 41176 41176 322999 322999 16320 16320 3539398 3539398 542459 542459 717873 717873 496939 493489 3450 BAD DEBTS 54630 54630 52390 33239 19151 7369253 7015120 354133 0 1577794 0 8416441 9204956 979148 0 1751426 0 0 0 19887431 0 0 1873390 4454720 0 37066960 11078346 1814604 0 32718976 0 -885741 0 33647839 0 X 3419121 11078346 3419121 11078346 37066960 11078346 7659225 0 X 0 0 1 1 X 15066686 15985283 16069386 16574894 8305326 72001575 15066686 15985283 16069386 16574894 8305326 72001575 0 0 0 72001575 146885 157659 81314 43685 269946 699489 146885 157659 81314 43685 269946 699489 15213571 16142942 16150700 16618579 8575272 72701064 0.99040 0.99390 0.00960 0.00610 X 0 INVESTMENT IN RC PLAZA ASSOCIATES 1873390 C 1873390 REAL PROPERTY ALONG WITH ASSOCIATED RECEIVABLES, DEBT, AND CASH RESERVES 2022-12-19 8830460 CASH RECEIVED/CAPITAL ACCOUNT 814340960 RCA PLAZA ASSOCIATES LLC ONE PORTLAND SQUARE STE 6A PORTLAND ME 04101 LLC 0 0 0 0 PART II, LINE 1: ON DECEMBER 19, 2022, THE CORPORATION SIGNED A DECLARATION OF INTENT OF INTEREST AND NOMINEE AGREEMENT WITH RC PLAZA ASSOCIATES, LLC, TRANSFERRING ALL BENEFICIAL AND EQUITABLE INTEREST IN, TO, AND WITH RESPECT TO, THE LOW-INCOME HOUSING PROJECT IT HAS OPERATED SINCE 2011, TO THE LLC. THE AGREEMENT STIPULATED AMONG OTHER THINGS THAT NOTWITHSTANDING SUCH TRANSFER, THE LEGAL AND RECORD TITLE (FEE OWNERSHIP) SHALL REMAIN WITH THE CORPORATION SOLELY AS NOMINEE ON BEHALF OF THE LLC AND TRANSFERRING 100% BENEFICIAL AND EQUITABLE OWNERSHIP OF THE PREMISES TO THE LLC. THE LLC WAS FORMED SOLELY FOR THE PURPOSE OF ACQUIRING, LEASING, AND OWNING THE LOW-INCOME HOUSING PROJECT, WHERE THE CORPORATION WITH 51% INTEREST IN THE LLC WILL BE ITS MANAGING MEMBER, WHILE RCP PRESERVATION, LLC, WITH 49% INTEREST IN THE LLC, WILL THE THE LLC'S PASSIVE MEMBER. FORM 990, PART III, LINE 3 IN DECEMBER 2022, THE CORPORATION TRANSFERRED ITS LOW-INCOME HOUSING PROJECT TO AN LLC WHICH WILL NOW HOLD THE PROPERTY AND MANAGE THE RENTAL ACTIVITIES. THE CORPORATION HAS A MAJORITY INTEREST IN THE LLC AND WILL OVERSEE THE OPERATIONS OF THE LLC TO ENSURE ACTIVITIES CONTINUE TO BE CARRIED OUT CONSISTENT WITH 501(C)(3) PURPOSES. SEE SCHEDULE N AND SCHEDULE R FOR ADDITIONAL INFORMATION. FORM 990, PART VI, SECTION A, LINE 3 THE ORGANIZATION DELEGATED CONTROL OVER PROPERTY AND BACK OFFICE MANAGEMENT DUTIES TO DOUGLAS ELLIMAN PROPERTY MANAGEMENT. AFTER THE TRANSFER OF PROPERTY TO RC PLAZA ASSOCIATES LLC, THE MANAGEMENT COMPANY STILL KEEPS THE BOOKS FOR DIVISION HOUSING COMPANY ALONG WITH MONTHLY BANK RECONCILIATIONS. FORM 990, PART VI, SECTION B, LINE 11B A TENTATIVE DRAFT OF THE FORM 990 (BEFORE IT IS FINALIZED AND SENT TO IRS) IS SENT TO THE ORGANIZATION'S BOARD PRESIDENT, WHO REVIEWS AND DISCUSSES THE RETURN, ALONG WITH THE UNDERLYING FINANCIAL STATEMENTS, WITH THE GOVERNING BODY. ANY SUGGESTED CHANGES OR COMMENTS AND QUESTIONS ARE THEN DISCUSSED WITH THE CPA BY A CONFERENCE CALL. FORM 990, PART VI, SECTION B, LINE 12C EACH OFFICER, DIRECTOR OR TRUSTEE IS REQUIRED TO DISCLOSE ANNUALLY INTERESTS THAT COULD GIVE RISE TO CONFLICTS IN A BOARD MEETING. IF AN ITEM OF CONFLICT IS NOTED, THE BOARD DISCUSSES AND VOTES ON IT BEFORE REWARDING ANY CONTRACTS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS, ETC. ARE MADE AVAILABLE TO PUBLIC UPON REQUEST. COPIES OF THESE DOCUMENTS ARE KEPT AT THE MANAGING AGENT'S OFFICE AND ONCE REQUESTED, THE AGENT WILL MAIL SUCH COPIES BY REGULAR MAIL. FORM 990, PART VII CONTACT ADDRESSES FOR OFFICERS, DIRECTORS, ETC MONSIGNOR ANTHONY HERNANDEZ - 263 MARCY AVENUE, BROOKLYN, NY 11211. RABBI JOSHUA ROSENBAUM - 469 BEDFORD AVENUE, BROOKLYN, NY 11211. MARY DUNBAR - 693 BEDFORD AVENUE, BROOKLYN, NY 11211. MIGUEL HERNANDEZ - 90 ROSS STREET, APT 6A, BROOKLYN, NY 11249. RC PLAZA ASSOCIATES LLC ONE PORTLAND SQUARE SUITE 6A PORTLAND ME 04101 814340960 LOW-INCOME HOUSING NY DIVISION HOUSING CORPORATION RELATED 174870 36286533 0 1 0.51000 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 RC PLAZA ASSOCIATES LLC B 1698520 K-1 CAPITAL ACCOUNT RC PLAZA ASSOCIATES LLC G 7131940 CASH RECEIVED